NIKE, Inc. (NYSE:NKE) Stock Holdings Boosted by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc lifted its stake in shares of NIKE, Inc. (NYSE:NKE) by 35.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 166,633 shares of the footwear maker’s stock after acquiring an additional 43,397 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in NIKE were worth $14,730,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Transcendent Capital Group LLC raised its holdings in NIKE by 97.6% during the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 200 shares during the last quarter. VitalStone Financial LLC grew its stake in shares of NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC boosted its position in shares of NIKE by 272.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after purchasing an additional 376 shares in the last quarter. Triad Wealth Partners LLC purchased a new stake in shares of NIKE in the second quarter valued at about $44,000. Finally, MFA Wealth Advisors LLC bought a new position in NIKE during the second quarter worth about $46,000. 64.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NKE. Morgan Stanley increased their price target on shares of NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Evercore ISI cut their price target on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft dropped their price target on NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Bank of America lowered their target price on NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Finally, Sanford C. Bernstein decreased their price target on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $96.48.

NIKE Trading Up 0.1 %

NKE opened at $76.67 on Wednesday. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $114.96 billion, a PE ratio of 21.97, a PEG ratio of 1.86 and a beta of 1.03. The firm has a 50-day moving average price of $81.16 and a two-hundred day moving average price of $83.49. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.18. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. NIKE’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.94 earnings per share. As a group, equities analysts anticipate that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

NIKE Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.